Raydium is back on traders’ radar after shaping a bullish pattern following a steep drop earlier this year. Over the past day, the token has climbed 5.13% and is currently trading at $1.86. What’s even more interesting is the trading volume; it’s up more than 80%, showing that interest in RAY is heating up again.
Onchain analyst CW shared on X that the token looks like it’s setting up for a breakout. But there’s one key resistance level standing in the way, and if it breaks, RAY price could be looking at a potential 2x move.
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Earlier in the year, Raydium (RAY) had a strong rally that peaked in February before slipping into a downtrend. During that drop, the price action formed a falling wedge pattern, a setup that traders often watch for bullish reversals. However, CW has pointed out that the price of RAY has already broken out of the wedge and, even after a slight pullback, it’s still holding higher than its previous low. That’s usually a good sign for trend continuation.
Looking at the chart, the falling wedge is easy to spot. It shows that sellers gradually lost steam, and once RAY price broke above the upper trendline, it started consolidating just above the $1.80–$2.00 range. The volume also picked up during that breakout, hinting at possible accumulation by buyers getting in early.
What you'll learn 👉
Analysts Focus on $4 Resistance as Potential Trigger for RAY
According to the chart, RAY is facing immediate resistance between $3.00 and $3.50, with $4.00 identified as the next key level. CW stated that a breakout above this zone could open the path for a broader rally. Historical data shows that once the price clears these barriers, it may attempt to test zones between $6.50 and $9.00.
CW also emphasized that the asset is holding a higher price level than its previous low. This higher low structure often acts as a confirmation of a trend reversal, making the $4 mark a potential trigger point for upward movement. A move above this level could mark the continuation of bullish momentum.
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Raydium Support Zone Holds Strong Despite Earlier Sell-Off
The green zone near $1.80–$2.00 has been tested multiple times, and the price has remained above it, reflecting buying interest. During the previous correction, the asset dropped significantly from February highs but failed to make a lower low after the falling wedge breakout. This development supports the ongoing bullish case from a technical perspective.
Price action has remained stable within a narrow range, and higher trading volume shows that market participants are watching this level closely. If the support remains intact, it could act as a launch point in the event of a bullish breakout.
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RAY Market Outlook Hinges on Price Reaction at Resistance
The next move for RAY will likely depend on how it reacts near the $4 resistance area. If the price closes above this range on strong volume, the setup may play out in favor of bulls targeting higher zones. On the other hand, failure to clear this level could trigger another consolidation phase or test of lower supports.
Traders are closely monitoring RAY price for a decisive move. The current price structure, combined with higher lows and rising interest, has positioned the token as one to watch in the near term.
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